Showing 1 - 10 of 437
Persistent link: https://www.econbiz.de/10014431642
The Fiscal Theory of the Price Level (FTPL) is a promise to obtain price level determinacy even if the nominal interest rate is constant. The idea is that a unique current price level ensures that the present value government budget constraint holds. I establish that this idea hinges on the...
Persistent link: https://www.econbiz.de/10014464269
Persistent link: https://www.econbiz.de/10013350424
Persistent link: https://www.econbiz.de/10013350442
Persistent link: https://www.econbiz.de/10013269793
Persistent link: https://www.econbiz.de/10003924197
(2000) to a small open economy with endogenous labor supply. We first show how the Dornbusch (1983) consumption-based real …
Persistent link: https://www.econbiz.de/10010261384
consumption via managing inflation expectations based on the Euler equation. Unconventional fiscal policy uses trivial … announcements of future consumer-price increases to boost inflation expectations and consumption expenditure on impact. Instead …
Persistent link: https://www.econbiz.de/10012861381
We evaluate the impact of government spending efficiency on fiscal sustainability for a panel of 35 OECD countries during the period of 2007-2020. To answer our research question we first compute the magnitude of the responses of government revenues to changes in government spending. Next, we...
Persistent link: https://www.econbiz.de/10013289691
We assess the specific need (or its absence) of a country to implement a fiscal consolidation programme by focusing specifically on their degree of success, notably in terms of fiscal sustainability. The “need” to consolidate is based on having a primary balance above or below the...
Persistent link: https://www.econbiz.de/10013296715